are The charter of Magnola Corporation authorizes the issuance of 800 shares of preferred stock and 3,200 shares of common stock During a two month period, Magnolia completed these stock-issuance transactions (Click tho icon to view the transactions.) Read the requirements ace Requirement 1. Record the transactions in the general Journal (Record debits first, then credits, Select the explanation on the last line of the journal entry table.) Mar. 23: Issued 240 shares of $2 par value common stock for cash of $13 per share Date Accounts and Explanation Debit Credit Mar. 23 out qul Apr. 12: Received inventory with a market value of $20,000 and equipment with a market value of $10,000 for 300 shares of the $2 par valve common stock Dato Accounts and Explanation Debit Credit Apr. 12 ces orii hon Choose from any list or enter any number in the input fields and then continue to the next question. sactions in the general journal. (Record debits first, then credits. Select the explanation on the last line of the journal 2 par i More Info Ad Mar. 23 Issued 240 shares of $2 par value common stock for cash of $13 per share. Received inventory with a market value of $26,000 and equipment with a market Apr. 12 value of $16,000 for 300 shares of the $2 par value common stock. Apr. 17 Issued 800 shares of 6%, $20 par value preferred stock for $20 per share. bmmor ham Print Done A any number in the input fields and then continue to the next question. tion authorizes the issuance of 800 shares of preferred stock and 3,200 shares of common stock. During a two-mont ES: ansactions.) nsactions in the general journal. (Record debits first, then credits. Select the explanation on the last line of the journal e 52 par G 6 Requirements Ad 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of the Magnolia balance sheet as of April 30, 2018, for the transactions given in this exercise. Retained Earnings has a balance of $72,000 at April 30, 2018. with a ml bmmon si Print Done Ad enter any number in the input fields and then continue to the next